Results 3,761-3,780 of 7,082 for speaker:John Paul Phelan
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Thank you. On page 3 of your opening statement you describe a crisis simulation exercise as being "carefully constructed". It involved the Department of Finance, Central Bank and the regulator, conducted in 2007 on a potential bank failure. I'd ask you to comment on that description and how it fits with the fact that the exercise lasted less than three hours. It was described by Governor...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Okay. I just want to turn to INBS and refer to page 4 again of your opening statement where you say "in the first half of September 2008, when it was clear that INBS was in ... difficulty, I told the staff in the [regulator] that [Bank of Ireland] ...and ... AIB ... would have to be called in to assist in a resolution for [Irish Nationwide]". What did you mean by the term "resolution"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Okay. Can you understand then that if you felt that that resolution had to be reached, that, you know, people watching might have difficulty in accepting that, you know, the guarantee subsequently, which you were part of the decision to take, included guaranteeing Irish Nationwide? That if you felt in, in those comments in early September 2008 that a resolution had to be reached, reached...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Okay. My time is running out, I'm sorry, I'm not trying to cut you short but, again, on page 12 of your statement, you pointed out ... and that on the night on the guarantee in the room "...once guaranteed they could not in any circumstance be allowed to fail – and so any capital or cash shortfall would have to be addressed". At that point in time, did you believe that there was...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: They said, and I'm not just trying to interrupt you ... they said, and Mr. Goggin's evidence was that, because the budget was approaching, that they decided not to approach the Government at the time, but on 13 October, they were exploring the option of capital investment from the Government and, therefore, from the taxpayer.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: I asked-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: I asked a whole load of different questions.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Thank you, Chairman, and welcome, Mr. Moran. We're a bit later starting I think than scheduled but you're welcome. A couple of things from your opening statement that I want to refer to at the start, and I want to quote you directly actually. You said, "My own [personal] experience was to suffer what I still consider to be unacceptable interference by the media into my personal life." I...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Do you have any views as to how it could be ... how such interference - unacceptable interference, as you say - could be-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Can ... can I follow on from that? You outlined a difficulty, as you see it, with the operation of ... of Cabinet meetings in terms of the availability of senior civil servants to contribute. How would you envisage Cabinet meetings operating if the list of people which you mentioned were to be all present and contributing? And, in effect, does the current system not allow for senior civil...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Okay, well that's-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Okay. I want to turn briefly to a couple of general questions about IBRC, which we can ask general issues. And I want to reference a quote from The Sunday Business Post, 26 April 2015, Mr. Mike Aynsley, former chief executive, stated, and I quote, "I don't think it's a secret that I don't get on at all well with John.", end of quote. It's 26 April 2015.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: No it's ... no it's a reference to his period ... the previous period-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Sorry, Chairman, this was ... this ... the question was sent to the inquiry and was legally proofed.